Mar 2
7 BILLION ESHK HAVE BEEN BURNED! Q1 BURN PLAN WENT SMOOTHLY!
March 1, towards the end of Q1 2022, eShark Token team conducted their first burning plan as written on their Whitepaper. But, before we discuss further about the burned ESHK, do you know why it is necessary to burn a Token?
Some of you may already know the reason behind token burn, but if you don’t, here is the reason. Token burn is a strategy in the Cryptocurrency world where a certain amount of tokens are sent to an unused crypto wallet which leaves that token gone forever. With this strategy, the price of the remaining token will be increased because of scarcity. The more the token burned, the more it can be increased.
Just like other cryptocurrencies, eShark Token team decided to follow their whitepaper plan of ESHK burning, with the first burn happening on March 1 2022. The community was eager to wait for the burning that happened on GMT +7 12:00 . As the burn happened, the price obviously increased and the cheer from the community can be seen on their official telegram community.
7% of ESHK total supply was sent to an unused wallet, making 7 Billion of ESHK will be gone forever on the market, reducing the total of ESHK supply. If you are curious to see the transactions hash, you can check it on:
0xa23dd25bd993350f8aef859341d43eaa4900f76a7174017189a46d6a37d18d80
This burn was the first of the ESHK burning plan, there will be another burn that will keep increasing ESHK value on the market. So, before you miss the chance to own ESHK while the price is still affordable to most people, you can get your ESHK now on WhiteBIT, Coinsbit, P2PB2B, and PancakeSwap! You can also Stake your ESHK on WhiteBIT smart staking plan.
So, what are you waiting for? Get your ESHK now!
https://coinmarketcap.com/id/currencies/eshark-token/
